VRL Logistics Hits 52-Week High as Q4 Net beats Estimates

VRL Logistics shares which were listed some time back on the stock exchanges jumped as much as 11 per cent to hit 52-week high of Rs 329 after the company reported strong set of fourth quarter numbers.

VRL Logistics' March quarter net profit increased over two-fold to Rs 19.36 crore from Rs 8.39 crore during the same period last year.

Revenues for the quarter jumped 8.4 per cent to Rs 397.40 crore from Rs 366.6 crore in the March quarter last year.

The results posted by VRL Logistics were better than what the analysts had expected.

Reacting to the news, shares of VRL Logistics came in high demand as 8,63,000 shares changed hands on the BSE compared to average of 1,80,000 shares traded daily in the past two weeks. VRL Logistics ended 8 per cent higher at Rs 320.